Posted by Neil King
IFA Hotels and Resorts (IFA HR) has opened its second hotel condominiums project in Dubai.
The firm has set up its newest condominium venture within the five-star Fairmont Palm Jumeirah hotel and guarantees annual returns of at least ten per cent for investors.
Werner Burger, president and chief operations officer of IFA HR, stated: "As the first company to introduce the concept of hotel condominium ownership to the Middle East, we have seen its appeal continue to grow, particularly in markets like Dubai."
He added that, during the present uncertain economic times, Dubai property investment could be a prudent move as hotel occupancy in the emirate is still one of the highest in the world.
Elsewhere, commercial property in Dubai was recently described as "extraordinary" by Ian Scott, the UK and Ireland director for the government of Dubai's department of tourism and commerce marketing.
He stated that the emirate is internationally acclaimed and offers facilities which keep it "head and shoulders above" other global destinations.